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Daily SOFR Rate definition

Daily SOFR Rate means, for any day, a rate per annum equal to Term SOFR in effect on such day for a one-month Interest Period (subject to the Floor referred to in the definition of “Term SOFR”).
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Daily SOFR Rate means, for any day, on any date in any month, Adjusted Term SOFR determined for a one-month Interest Period commencing the first day of that month, or if such day is not a U.S. Government Securities Business Day, then the immediately preceding U.S. Government Securities Business Day. The Daily SOFR Rate shall fluctuate and be adjusted with each change in such rate.
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Daily SOFR Rate means, with respect to any day (a “SOFR Rate Day”), a rate per annum equal to the sum of the Credit Spread Adjustment plus SOFR for the day (such day, the “SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to (i) if such SOFR Rate Day is a U.S. Government Securities Business Day, such SOFR Rate Day or (ii) if such SOFR Rate Day is not a U.S. Government Securities Business Day, the U.S. Government Securities Business Day immediately preceding such SOFR Rate Day, in each case, as SOFR is published by the SOFR Administrator on the SOFR Administrator’s Website; provided, however, that if Daily SOFR determined as provided above would be less than zero percent (0.00%), then the Daily SOFR Rate shall be deemed to be zero percent (0.00%); and, provided, further that, upon the occurrence and during the continuance of an Event of Default (and without any notice given with respect thereto), “Daily SOFR Rate” shall mean the Default Rate. If by 2:00 p.m. (San
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Examples of Daily SOFR Rate in a sentence

  • Except as provided in Sections 2.03(f), each Borrowing of or conversion to Daily SOFR Rate Loans or Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof.

  • If Borrower fails to specify a Type of Loan in a Loan Notice, then the applicable Loans shall be made as a Daily SOFR Rate Loan.

  • Loans may be Daily SOFR Rate Loans, Term SOFR Rate Loans or Base Rate Loans, in each case as further provided and subject to the limitations set forth herein.

  • If the applicable L/C Issuer resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of an L/C Issuer hereunder with respect to all Letters of Credit issued by it and outstanding as of the effective date of its resignation as an L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Daily SOFR Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)).

  • Each such Loan Notice must be received by Administrative Agent not later than 11:00 a.m. (i) two (2) Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Term SOFR Rate Loans or of any conversion of Term SOFR Rate Loans to Daily SOFR Rate Loans or Base Rate Loans, and (ii) on the requested date of any Borrowing of any Daily SOFR Rate Loans or of any conversion of Daily SOFR Rate Loans to Base Rate Loans or Borrowing of Base Rate Loans.


More Definitions of Daily SOFR Rate

Daily SOFR Rate means, for any day, an interest rate per annum, reset on each Business Day (rounded in accordance with Bank’s customary practices, unless there is a hedge agreement in place with Bank), equal to the greater of (x) SOFR for the day that is five Business Days prior to such day, published by the SOFR Administrator on the immediately succeeding Business Day and (y) the Floor. If by 5:00 pm (New York City time) on the second Business Day immediately following any day on which SOFR is to be reset, SOFR for such day has not been published on the SOFR Administrator’s Website, then SOFR for such day will be SOFR as published in respect of the first preceding Business Day for which such SOFR was published on the SOFR Administrator’s Website; provided that any SOFR determined pursuant to this sentence shall be utilized for purposes of calculation of SOFR for no more than ten consecutive Business Days.
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Daily SOFR Rate means, with respect to any day (a “SOFR Rate Day”), a rate per annum equal to the sum of the Credit Spread Adjustment plus SOFR for the day (such day, the “SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to (i) if such SOFR Rate Day is a U.S. Government Securities Business Day, such SOFR Rate Day or (ii) if such SOFR Rate Day is not a U.S. Government Securities Business Day, the U.S. Government Securities Business Day immediately preceding such SOFR Rate Day, in each case, as SOFR is published by the SOFR Administrator on the SOFR Administrator’s Website; provided, however, that if Daily SOFR determined as provided above would be less than zero percent (0.00%), then the Daily SOFR Rate shall be deemed to be zero percent (0.00%); and, provided, further that, upon the occurrence and during the continuance of an Event of Default (and without any notice given with respect thereto), “Daily SOFR Rate” shall mean the Default Rate. If by 2:00 p.m. (San Francisco time) on the second (2nd) U.S. Government Securities Business Day immediately following any SOFR Determination Day, SOFR in respect of such SOFR Determination Day has not been published on the SOFR Administrator’s Website, then SOFR for such SOFR Determination Day will be SOFR as published in respect of the first preceding U.S. Government Securities Business Day for which SOFR was published on the SOFR Administrator’s Website; provided that any SOFR determined pursuant to this sentence shall be utilized for purposes of calculation of Daily SOFR for no more than three (3) consecutive SOFR Rate Days. Any change in the Daily SOFR Rate due to a change in SOFR shall be effective from and including the effective date of such change in SOFR.
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Daily SOFR Rate means, for any day, a rate per annum equal to Term SOFR in effect on such day for a one- month Interest Period (subject to the Floor referred to in the definition of “Term SOFR”).
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Daily SOFR Rate means, for any day (a “OS Rate Day”), a rate per annum determined by CIBC that is equal to SOFR for the day that is five (5) Business Days (or such other number of Business Days as may be notified by in writing by CIBC to the Borrower from time to time) (the “OS Lookback Date”) prior to (i) if such OS Rate Day is a Business Day, such OS Rate Day or (ii) if such OS Rate Day is not a Business Day, the Business Day immediately preceding such OS Rate Day, in each case, as such SOFR is published by the SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any OS Rate Day, SOFR for the DS Lookback Date has not been published by the SOFR Administrator, then the Daily SOFR Rate will be SOFR as published by the SOFR Administrator on the first Business Day preceding the OS Lookback Date for which SOFR was published by the SOFR Administrator so long as such first preceding Business Day is not more than three (3) Business Days prior to such DS Lookback Date; provided further that in the case of SOFR (OS) Loans on which interest is calculated on the basis of the Daily SOFR Rate (but, for certainty, excluding SOFR (OS) Loans on which interest is calculated on the basis of the Adjusted Daily SOFR Rate), if the Daily SOFR Rate as so determined shall ever be less than zero (0), then the Daily SOFR Rate shall be deemed to be zero (0).
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Daily SOFR Rate means the rate per annum equal to SOFR determined for any day pursuant to the definition thereof. “SOFR” means, with respect to any applicable determination date, the Secured Overnight Financing Rate published on such date by the SOFR Administrator on the Federal Reserve Bank of New York’s website (or any successor source); provided however that if such determination date is not a U.S. Government Securities Business Day, then SOFR means such rate that applied on the first U.S. Government Securities Business Day immediately prior thereto. Any change in Daily SOFR shall be effective from and including the date of such change without further notice. If at any time the Daily SOFR Rate is less than zero, such rate shall be deemed to be zero. Current pricing for overdrafts to CCSF accounts will be the SOFR rate plus 1.70%, as of September 1, 2022.
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Daily SOFR Rate means with respect to Loans to which the Daily SOFR Option applies, a fluctuating interest rate per annum as shall be in effect from time to time equal to (a) Daily 1M SOFR, plus (b) the SOFR Adjustment.
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Daily SOFR Rate means, with respect to Capital comprising any Portion of Capital to which the Daily SOFR Rate applies, a fluctuating interest rate per annum as shall be in effect from time to time equal to (a) the SOFR Adjustment plus (b) Daily One Month SOFR. “Daily SOFR Rate Capital” means Capital that accrues Yield based on the Daily SOFR Rate. “Debt” of any Person shall mean, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional sale or other title retention agreements relating to property or assets purchased by such Person, (d) all obligations of such Person issued or assumed as the deferred purchase price of property or services (other than current trade liabilities and current intercompany liabilities (but not any refinancings, extensions, renewals or replacements thereof) incurred in the ordinary course of business, (e) all guarantees by such Person of Debt of others, (f) all capital lease obligations of such Person, (g) all payments that such Person would have to make in the event of an early termination, on the date Debt of such Person is being determined, in respect of outstanding swap agreements, (h) the principal component of all obligations, contingent or otherwise, of such Person as an account
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